Advertisment


Money Mules- How They Work?

 

Perhaps you have you received an email or visited a site, promoting two or more of the following incentives:

 

Earn $1500-$4000 per week working from home…

Only requires 1-2 hours of availability per day… or 

Work as a ‘Financial Agent’…

Let us now look in to the money mule – how they work? The most simplest and common method of recruiting innocent victims is to advertise for jobs involving accepting money transfers and sending money transfers. “Payment processing agents”, “money transfer agents”, “local processors”, “collection agents” or “regional managers”  are some of the variations used, to describe the job by the scammer. The money mule will be expected to accept payments from someone and to pass it on quickly to somebody else. This seems an easy job which can be done from the victims own home.

The explanation behind these money transfers usually given by the scammer to the money mule is that using other transfer methods is too slow but this is not true. There is no job of any kind of work-from-home transfer or processing agent in reality. Legitimate companies will always use other services for this kind of work.

Remember that although the prospect of making some good money easily may appear lucrative, any "commission" payments that you receive will be recovered, for they are part of the proceeds of fraud. Plus, you may become entangled in a police investigation.

 

Another example of working of money mule scams include the common method of recruiting gullible victims to act as money mules for stolen merchandise is to advertise for jobs involving receiving and shipping parcels. The scammer will project himself as “regional distributor” or similar. But these parcels are actually stolen goods and the victim usually gets fooled into receiving these parcels. He then forwards them to fake address in the scammer’s country where they are picked up by the scammer.

For stolen money, money mule scammers will usually ask the victim to send the money he gets through an online money wire service like Western Union or MoneyGram. It is easy to take advantage of these services by using fake identification, thus masking both the scammer’s true location and identity. Also these services usually do not block suspicious looking transfers, which can be a problem when using other international transfer methods.

 

As is clear from the above, the purpose behind the money mule scams is to mask the scammer’s true identity. The money trail of the original crime always ends up with the victim, even though he was completely unaware of being a money mule all along. But the chances are that he was breaking the law in his own country and therefore can end up in legal trouble.

Money mule – how it happens, we hope you have a clearer picture of the scenario. Therefore, stay away from an opportunity of making some easy money when the offer seems too good to be true. It probably is a money mule scam.